5
Q:

In economics,"capital" refers to

A) mineral resources B) the money in one's pocket
C) consumer goods D) buildings and equipment

Answer:   D) buildings and equipment



Explanation:

Capital refers to buildings and equipment i.e, goods which are used by workers to produce other goods such as machinery, land, ...

Capital has a number of related meanings in economics, finance, and accounting.

In economics, Capital comprises one of the four major factors of production, the others being land, labor, and entrepreneurship.

In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business.

Subject: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO
Q:

As per Mankiw's Principles of Economics, the standard of living of a country depends on the country's ______.

 

A) nominal wages B) government policy
C) ability to produce goods and services D) average wages
 
Answer & Explanation Answer: C) ability to produce goods and services

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1 39
Q:

All the tangible resources like raw materials and labor used in production process are called

 

A) Opportunity cost B) Variable cost
C) Fixed cost D) Real cost
 
Answer & Explanation Answer: D) Real cost

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Q:

What happens when the fiscal deficit increases

 

A) prices increase B) no direct impact on prices
C) prices remain constant D) prices decrease
 
Answer & Explanation Answer: B) no direct impact on prices

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Q:

A substantial increase in capital expenditure or revenue deficit leads to ______.

 

A) Budgetary Deficit B) Fiscal Deficit
C) Primary Deficit D) Revenue Deficit
 
Answer & Explanation Answer: B) Fiscal Deficit

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Q:

What effect will a decrease in demand and an increase in supply have on equilibrium price?

 

A) Sometimes price will rise and sometimes it will fall B) Equilibrium price will fall
C) Equilibrium price will rise D) Equilibrium price will be constant
 
Answer & Explanation Answer: B) Equilibrium price will fall

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Q:

A market place in which a final good or service is bought and sold is called ______.

 

A) Commodity Market B) Factor Market
C) Product Market D) Equity Market
 
Answer & Explanation Answer: C) Product Market

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Q:

Who among the following publishes the Economic Survey of India?

 

A) National Development Council B) Ministry of Finance
C) Institute of finance D) Indian Statistical Institute
 
Answer & Explanation Answer: B) Ministry of Finance

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Q:

In ________ economies, all productive resources are owned and controlled by the government.

 

A) dual B) socialist
C) mixed D) capitalist
 
Answer & Explanation Answer: B) socialist

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